How to Choose Motorcycle Insurance Coverage

How to Choose Motorcycle Insurance Coverage

Owning a motorcycle can be a big responsibility. Motorcyclists are tasked with operating their bikes safely to share the road with much larger cars and trucks. They’re also responsible for maintaining insurance on their motorcycles in case of an accident.

As most motorcyclists well know, due to the lack of a steely exterior, when a crash does occur, a rider often sustains devastating injuries, which makes having the right insurance coverage more important than ever.

While some motorcyclists hope they can squeak by with the minimum insurance coverage the state mandates, others find this doesn’t provide the benefits they need after a serious accident.

If you’re shopping for insurance coverage for your motorcycle, here’s what you need to know about choosing the right policy.

Indiana Motorcycle Insurance Minimum Requirements

Indiana law requires motorcyclists to have a minimum of $25,000 bodily injury coverage per person and $50,000 total bodily injury coverage per accident. Motorcyclists must also carry a minimum of $10,000 in property damage coverage.

While that may sound like a lot of money, after a motorcycle accident, that coverage doesn’t always stretch as far as one might expect. The property damage and medical costs associated with motorcycle crashes can easily exceed these mandated minimums. Carrying extra motorcycle insurance can help motorcyclists avoid getting stuck with huge out-of-pocket costs while recovering from an accident.

In contrast to these mandated minimums in Indiana, motorcycle attorney and longtime motorcycle enthusiast Randy Sevenish recommends that motorcyclists carry coverage of $250,000 per person and $500,000 per accident.

Types of Motorcycle Insurance in Indiana

There’s a motorcycle insurance policy to fit every need, budget, and lifestyle. Understanding the different types of motorcycle insurance options can help ensure that riders find the coverage that’s right for them.

  • Liability coverage: This option covers the injuries and property damage caused to others (to the specified coverage amount) but doesn’t cover the cost of treatment for the rider’s injuries or damage to the motorcycle.
  • Collision coverage: Collision insurance covers the damage to the motorcycle, minus the deductible, when a motorcyclist collides with another vehicle or object.
  • Comprehensive coverage: This insurance covers non-collision-related damage, such as vandalism or theft.
  • Uninsured/underinsured motorist coverage: Uninsured/underinsured motorist insurance covers property damage, medical costs, lost wages, and other damages caused by motorists who either don’t have insurance or whose insurance is insufficient to cover the damages sustained. Sevenish recommends that motorcyclists carry a minimum of $1 million in uninsured/underinsured coverage.
  • Medical coverage: This non-fault-based coverage pays the medical bill of injured riders. Sevenish recommends carrying at least $25,000 in medical payment coverage.

Are There Things Indiana Motorcycle Insurance doesn’t Cover?

While it’s good to have motorcycle insurance coverage, there are exclusions, which mean it doesn’t cover every circumstance involving a motorcycle.

Motorcyclists who suffer damages and injuries from any of the following probably will not be able to file an insurance claim for any of the following:

  • Accidents involving driving while under the influence (DUI) (alcohol, drugs, and other intoxicating substances)
  • Accidents involving illegal activities (criminal acts); traffic violations are excluded
  • Accidents involving hurting oneself on purpose (self-harm)
  • Crashes that occur when motorcycle riders carry out rideshare or food delivery services or perform their employment duties 
  • Collisions that occur from risky activity with the motorcycle, such as stunting and racing with it

We encourage you to read your entire policy thoroughly so that you are familiar with what you can and cannot recover should you need to file a claim.

Tips for Shopping for Motorcycle Insurance

  • Motorcyclists with clean driving records can often find insurance policies with lower premiums.
  • Some insurance companies offer discounts to graduates of certain motorcycle safety training courses.
  • Most regular motorcycle insurance policies don’t cover custom parts. Motorcyclists who’ve made enhancements to their bikes should seek supplemental coverage up to the cost of replacement.
  • Get quotes from at least three different insurance companies, as the cost of coverage can vary by as much as half.
  • Motorcyclists seeking insurance coverage from the same company that ensures their homes and other vehicles may be entitled to a discounted rate.
  • Some insurance companies offer discounted rates for motorcyclists aged 55 and older.
  • Motorcyclists can sometimes secure discounted insurance rates for storing their bikes in a garage rather than on the street or in a driveway.

Factors like where you live, your driving record, the kind of motorcycle you have, how often you use it, the deductible amount, and how many miles you ride every year can also affect the cost of your insurance. You may want to consider these and other factors when deciding on the motorcycle insurance coverage you will need. 

Do You Have the Right Motorcycle Insurance Coverage?

Having the right insurance coverage can make all the difference after a motorcycle accident. Don’t wait until it’s too late to find out if you have the coverage you need. 

Randy Sevenish of Sevenish Law Firm, P.C., can go over your motorcycle insurance policy to determine if it provides sufficient protection and explain how to choose the motorcycle insurance coverage that meets your needs.

Contact us today for your free, no-obligation motorcycle insurance audit. In the meantime, request a copy of our free e-book, Indiana Motorcyclist Guide: Protecting the Biker 101, for more information.

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